Why invest in Mykonos
Mykonos’s blooming economy, reputation for innovation and the ease of doing business make it an attractive place to invest. There is a steady increase in the number of visitors from all over the world who make Mykonos their preferred destination, creating a wider base of origin countries and new demands for services, facilities, and attractions.
International buyers and investors will find:
- a wide spectrum of business opportunities
- a welcome environment for new investments
- an institutional and legal framework that facilitates the implementation of investment projects.
- Flexible immigration policies designed to facilitate access for investors and entrepreneurs.
The recent Investment Law of Greece aims to increase liquidity and accelerate investment procedures. This Law (4146/2013 “Creation of a Development Friendly Environment for Strategic and Private Investments”) aims at modernising and improving the institutional framework for private investments, subject to investment laws. [download here- only available in Greek]
Some of the Provisions include:
- Option for 100% (increased from 50%) advance payment of the grant with a letter of guarantee.
- The investor may chose the preferred mix of the Investment Law benefits (tax-relief or grant) for investments up to €50 million, to enhance the flexibility of financing for “Small” and “Medium” * investors.
- Sectors of entrepreneurship to be supported through the Law are expanding. The previous time limitation for the submission of investment plans, only in April and October, is abolished. Submissions may be made throughout the year.
Sectors of opportunity
If you are interested in acquiring a working business in Greece, Mykonos is the right place to find something suitable. The tourist and recreational activity that is already occurring in the island offer many investment opportunities in the operation of tourism and leisure businesses. Among the targeted sectors for expansion include bars, hotels, restaurants and leisure facilities.
With our knowledge of the resources, land particularities and characteristics of tourist visitation in Mykonos, we can direct investors through all steps of renting or buying an operating business.
Mykonos at a glance
Mykonos is located to the area of the central Aegean Sea and belongs to the prefecture of Cyclades. Its total surface is 26.370 acres, while the length of its shores reaches 81 kilometers. Mykonos is the most famous of the group and attracts a large number of intellectuals, artists, and members of the international "jet set."
It consists of the municipality of Mykonos. Of a population of 11.000, 4.000 are estimated to be foreign residents. More than 80% of its work force is involved in the services sector. The highest point of Mykonos reaches approximately the 14 kilometers and its widest about 10.
Mykonos is connected with Athens with daily flights and during the summer with Thessaloniki, Rhodes, Santorini, and Crete. By boat the island is serviced both from Piraeus and Rafina ports. A daily boat service (weather permitting) is available between Mykonos and Delos.
It has an excellent coverage of road network and all the necessary infrastructure, able to satisfy even the most demanding visitors in all sections.